Three markets to watch next week (27.05.2022)

7:30 PM May 27, 2022

Global indices launched a rebound during this week amid easing concerns over the central bank's monetary policy outlook, after the latest FOMC minutes. Next week will be more about macroeconomic releases and an expected 50 bp rate hike from BoC. US indices  may get a chance to move next week on US labor market data, while DE30 traders will focus on inflation data from Germany and Eurozone. Be sure to watch US500, USDCAD and DE30, in the week ahead.


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As a new month begins, the time has come for release of US jobs data. The NFP report for May will be released on Friday at 1:30 pm BST, while ADP estimates will be published on Thursday at 1:15 pm BST. Markets expect a solid contraction of employment. Both of those releases may help US500 extend its recent recovery move.


The NFP report is a key macro event of the week, however DAX traders will also get some action. The German CPI inflation report for May will be released Monday at 1:00 pm BST and is expected to show price growth accelerating beyond 8%, while the German retail sales report for April will be released on Wednesday at 7:00 am BST. Also, several important macro reports from the Euro Area are set to be released, including retail sales on Friday at 10:00 am BST and inflation figures on Tuesday at the same time. Each of these events is considered to be a market-moving, therefore traders should keep on guard while trading DE30 next week.


Apart from the US labour market data, Forex traders will also focus on US ISM Services PMI for May which will be released on Friday at 3:00 pm BST and US ISM Manufacturing PMI will be published on Wednesday also at 3:00 pm BST. On Tuesday, Canadian GDP figures will be released at 1:30 pm BST. Investors will also get to hear from the Bank of Canada next week on Wednesday, 3:00 pm GMT. The central bank is expected to lift interest rates by 50 bp to 1.50%. A busy calendar during the week is likely to keep USDCAD moving and may help the pair snap out from recent sideways move.

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